img width=340 height=208 src=content/dam/Pennenergy/online-articles/2013/May/Keytstone%20XL.JPG a adhocenable=false href=http://www.pennenergy.com/articles/pennenergy/2013/10/transcanada-gets-business-leader-support-for-keystone-xl-oil-pipeline.html target=_blankTransCanada Corporationanbsp;(TSX:a href=http://markets.financialcontent.com/pennwell.ogj/quote?Symbol=61%3A1598967 target=_blank adhocenable=falseTRPa) (NYSE:a href=http://markets.financialcontent.com/pennwell.ogj/quote?Symbol=321%3A1598967 target=_blank adhocenable=falseTRPa) (TransCanada) welcomed the U.S. Department of State's (DOS) a adhocenable=false href=http://www.pennenergy.com/articles/ogj/2014/02/no-major-environmental-impact-from-keystone-xl-dos-says.html target=_blanklatest environmental analysis of the Keystone XL Pipelinea. The report's conclusions are consistent with results contained in over 15,000 pages of detailed scientific analysis in four previous environmental reviews of Keystone XL dating back to the spring of 2010. quot;The environmental analysis of Keystone XL released today once again supports the science that this pipeline would have minimal impact on the environment,quot; said Russ Girling, TransCanada's president and chief executive officer. quot;The next step is making a decision on a Presidential Permit for Keystone XL. I believe that this project continues to be in the national interest of the United States for two main reasons: supporting U.S. energy security and the thousands of jobs our multi-billion dollar project will create.quot; Girling adds that according to the U.S. Energy Information Administration and the International Energy Agency, the United States will continue to require millions of barrels of oil to be imported every day to meet its own needs for decades. quot;It just makes sense for more of that supply to come from right here in North America,quot; added Girling. quot;Let's get this done - it's time to bring over five years of regulatory review to an end and build this critical new piece of North American energy infrastructure.quot; The Final Supplemental Environmental Impact Statement issued today draws the following key conclusions: ul liKeystone XL is quot;unlikely to significantly impact the rate of extraction in the oil sands or the continued demand for heavy crude oil at refineries in the United States based on expected oil prices, oil-sands supply costs, transports costs and supply-demand scenarios.quot;li ul ul liRail, along with ocean tanker and other pipeline alternatives exist to transport crude oil from the Western Canada Sedimentary Basin and Bakken region to Gulf Coast refineries. All other alternatives to Keystone XL are less efficient methods of transporting crude oil, resulting in significantly more greenhouse gas emissions, oil spills and risks to public safety.li ul ul liThe incorporation of 59 Special Conditions and dozens of other extra spill prevention and mitigation measures will ensure that Keystone XL will quot;have a degree of safety over any other typically constructed domestic oil pipeline system under current code.quot;li ul ul liKeystone XL will support approximately 42,100 direct, indirect and induced jobs and approximately $2 billion in earnings throughout the United States. It would contribute approximately $3.4 billion to U.S. gross domestic product and provide a substantial increase in tax revenues for local counties along the pipeline route, with 17 of 27 counties expected to see tax revenues increase by 10 per cent or more.li ul Americans continue to support Keystone XL. Over the last three years more than 15 polls have indicated that the majority of Americans from all political backgrounds support the Keystone XL project. In September of 2013, a survey by the non-partisan Pew Research Center indicated that 65 per cent of Americans continue to favor building the Keystone XL Pipeline. quot;It was North American producers and refiners who asked TransCanada to build Keystone XL and connect their refineries with Canadian and U.S. oil fields,quot; said Girling. quot;They need the oil from this pipeline system to create products we all rely on - fuel for our vehicles, heat and air conditioning for our homes, diesel for farm tractors and heavy equipment, and thousands of consumer products that are made from petroleum-based products.quot; Girling added Keystone XL is quot;not about energy versus the environment; it's about where Americans want to get their oil. Keystone XL will displace heavy oil from places such as the Middle East and Venezuela, and of the top five regions the U.S. imports oil from, only Canada has substantial greenhouse gas regulations in place.quot; Keystone XL is currently the largest infrastructure project on the books in the U.S. and will benefit American families and the U.S. economy. In addition to the 9,000 construction jobs Keystone XL would create, local contractors and local businesses in the counties along the pipeline's route will benefit as well - restaurants, hotels, department stores, tire shops - the list goes on. To date, TransCanada has entered into contracts for Keystone XL with over 50 suppliers across the U.S. and invested more than $2 billion to purchase materials and related services for items ranging from the steel pipe and thousands of valves and fittings, to transformers and large electric motors for pumping stations and cabling and electrical equipment to connect our vast pipeline monitoring systems. Girling said the number one focus for TransCanada will be ensuring the pipeline is one of the safest and most technologically advanced pipelines in North America. quot;No other company has agreed to operate with all of the additional safety and operating procedures that TransCanada has,quot; he said. quot;That speaks volumes to our commitment to minimizing the impact of our pipeline, and ultimately to the environment and communities it will operate through.quot; TransCanada's existing Keystone Pipeline has safely and reliably delivered more than 550 million barrels of crude oil from Canada to refinery markets in the U.S. Midwest since it began operation in July 2010.
Constructing the Keystone XL pipeline would increase American national and energy security while helping to stabilize and lower gas prices. Reliable oil imports from our northern neighbor and ally, Canada, would counter ...
Prime Minister Stephen Harper’s frustration with U.S. President Barack Obama’s failure to approve the pipeline may make this installment of the North America summit the frostiest since the annual meetings began almost a decade ago
The greenhouse gas emissions from oil flowing through TransCanada Pipelines' proposed Energy East project would be equivalent to putting seven million new cars a year on Canadian roads, according to a report from an environmental think-tank released today.
With the steady stream of Canadian supplicants to Washington on the Keystone file, a government ad campaign aimed at U.S. decision makers and now Foreign Affairs Minister John Baird's push for President Obama to make up his mind, and the whole saga is taking on the aura of a slow-motion policy sink hole.
TransCanada’s proposed Energy East Pipeline would result in a dramatic rise in Canada’s greenhouse gas emissions, a new report from the Pembina Institute suggests. The report, released early Thursday, warns that producing the crude that the pipeline will carry could generate 32 million tonnes of additional greenhouse gas emissions each year — the equivalent of adding more than seven million cars to Canada’s roads.
Because Alberta oil is landlocked and therefore traditionally sold below world prices, it's been suggested that bringing it east will lower energy prices for us. It's probably more realistic to expect that Alberta crude will get more expensive as soon as a pipeline links it to us, and the world market.
Enbridge, whose $2.45-billion in revenue from oil pipelines last year was more than twice that of TransCanada for the segment, faces fewer hurdles for its expansion plans while Keystone has become a target for environmentalists' protests
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